16 - 17 Nov 2015

Location: Rüschlikon/ Zurich, Switzerland

About the event

The Swiss Risk and Insurance Forum brings together experts from academia, the insurance industry, regulatory bodies and consulting companies to discuss (typically technical) topics that are relevant to the insurance industry. The main objective is to provide a platform on which people from academia can interact with those involved on the more practical side of the insurance industry. This will facilitate the knowledge transfer in both directions helping enrich the research agendas of the academic institutions and enabling those dealing with practical matters to partake in the newest academic developments.

About this years eventOne of the most serious challenges for society today is the financing of retirees. Demographic trends and the changed reality in financial markets have rendered traditional models for securing the financial situation of retired people inadequate. In advanced economies, the baby boom generation is starting to reach retirement age and the ratio of the number of people of working age to the number of retirees is continuously decreasing. In addition to all sorts of issues for health and social care, this trend clearly poses a serious challenge for pay-as-you-go systems. Several measures are in the process of being adopted ranging from the raising of retirement age to a greater reliance on private pension plans. An aggravating factor has been a prolonged period of low interest rates and the financial crisis which amongst its many dire consequences ended up significantly depleting the value of pension funds’ assets.

Against this backdrop it is important that academic research devotes sufficient efforts to help develop a sustainable solution to this critical problem for society. Potential contributions certainly include a thorough understanding of demographic trends in order to have a solid basis for projecting the expected future financial burden. But it is also crucial to understand how to design, price, and manage the risk of new products and mechanisms for retirement plans. Inherently linked to this is the question of how to hedge since most financial instruments have maturities that are considerably shorter than that of the liabilities that need to be backed. The long term nature of liabilities also implies that model risk should be a key concern. The aim of this forum is to generate practical and methodological impulses for new quantitative, financial and actuarial approaches to old-age provision.

This event may be broadcasted live, photographed, filmed and /or recorded. A summary of the event, pictures and/or a video of the event in which you may appear may be posted and made available on Swiss Re’s and the Swiss Re Centre for Global Dialogue’s internal and external websites and in printed materials.

This event may be photographed, videotaped, filmed and /or recorded. A summary of the event, pictures and/or a video of the event in which you may appear may be posted and made available on Swiss Re’s and the Swiss Re Centre for Global Dialogue’s internal and external websites and in printed materials.

Antitrust statement

We would like to draw your attention to the fact that Swiss Re conducts its business according to applicable Competition and Antitrust Laws. Please bear this in mind while attending the conference. For more details, please contact the organiser.

Partners

University of Zurich

With its 26,000 enrolled students, the University of Zurich (UZH) is Switzerland's largest university. Founded in the year 1833, UZH was Europe's first university to be established by a democratic political system; today, UZH is one of the foremost universities in the German-speaking world. Made up of seven faculties covering some 100 different subject areas, the University offers a wide variety of Bachelor's, Master's and PhD programs. In addition, UZH's continuing education programs offer excellent learning opportunities.

The Center for Finance and Insurance was established in 2013 with the objective to advance research in the application of Finance Theory to insurance companies and to foster education in that area. The center is financed with third party funds and is associated to the Department of Finance and Banking.

The SNF supports since June 2012 an ongoing research collaboration between Swiss Re and the Center for Finance and Insurance for the project "Capital adequacy, valuation, and portfolio selection for insurance companies".

École Polytechnique Fédérale de Lausanne

EPFL is Europe’s most cosmopolitan technical university with students, professors and staff from over 120 nations. A dynamic environment, open to Switzerland and the world, EPFL is centered on its three missions: teaching, research and technology transfer. EPFL works together with an extensive network of partners including other universities and institutes of technology, developing and emerging countries, secondary schools and colleges, industry and economy, political circles and the general public, to bring about real impact for society.

Center on Risk Analysis and Risk Governance

The conference is supported through the Center on Risk Analysis and Risk Governance (CRAG) at EPFL. Recognizing that risk governance is an important component for the successful deployment of engineering and technologies, in particular in the context of public policy, EPFL created the CRAG, which is attached to the Vice-presidency for Academic Affairs. The mission of the CRAG is to develop and communicate knowledge and expertise related to risk analysis (risk assessment, risk management, risk perception and risk communication) and risk governance, as the broad context in which risk-based decisions are made, in multi-disciplinary, cross-sectorial and multi-stakeholder approaches.

ETH Zurich

ETH Zurich is one of the leading international universities for technology and the natural sciences. It is well known for ist excellent education, groundbreaking fundamental research and for its close contacts to industry. Founded in 1855, it offers an inspiring study, research and working environment to students and faculty alike. ETH Zurich has more than 18,500 students from over 110 countries, including 4,000 doctoral students. About 500 professors currently teach and conduct research in engineering, architecture, mathematics, the natural sciences, system-oriented sciences, and management and the social sciences. ETH Zurich regularly appears at the top of international rankings as one of the best universities in the world. Twenty-one Nobel Laureates have studied, taught or conducted research at ETH Zurich, further underlining its excellent academic reputation.

ETH Risk CenterThe conference is supported through the ETH Risk Centre. The ETH Risk Center, founded by the Swiss Federal Institute of Technology Zurich (ETHZ) in mid-2011, fosters both top-down initiatives and bottom-up collaborative research projects linked with R&D. It also serves as an interface between academia, industry and civil (or governmental) authorities. Its research output should help society and industry to better manage risk portfolios and to design novel solution for collaborative risk reduction, and resilience-enhancing schemes. Overcoming fragmented research as a guiding principle allows to better cope with the systemic nature of risk and to shape the evolving concepts of "Integrated Risk Management" and "Resilience".

RiskLabWe focus on precompetitive, applied research in the general area of quantitative risk management for finance and insurance. The laboratory, founded in 1994 as a virtual research cooperation between academia, industry and regulatory agencies, is part of the Department of Mathematics and is physically located in the main building of the ETH Zurich.The research carried out at RiskLab combines academic, methodological research with a strong input from and interaction with industry partners. Besides its professorial and administrative staff, RiskLab has several postdoctoral as well as Ph.D. positions. Additional researchers and guests are often appointed to RiskLab on the basis of specific research projects, often between industry and academia. Key areas of research include Insurance Mathematics, Quantitative Risk Management and The Modelling of Extremal Events for Insurance and Finance.

UNIL - Université de Lausanne

The Department of Actuarial Science (DSA) brings together various research activities in insurance, including theories of risk and credibility, pension systems, stochastic models in insurance, and mathematical instruments for finance. The department publishes scientific papers and maintains numerous contacts with both the academic and professional areas of insurance."

Swiss Re

The Swiss Re Group is a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer. Dealing direct and working through brokers, its global client base consists of insurance companies, mid-to-large-sized corporations and public sector clients. From standard products to tailor-made coverage across all lines of business, Swiss Re deploys its capital strength, expertise and innovation power to enable the risk taking upon which enterprise and progress in society depend.

Zurich Insurance Group Ltd.

Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With more than 55,000 employees, it provides a wide range of general insurance and life insurance products and services. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX.